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Lack of Scientific Training: The research methodology is not systematic. Many researchers undertake research work without having actual knowledge of the research methods. They just look for similar studies and copy the methodologies listed in it. Even the research guides do not have a thorough knowledge of the various methodologies. This scenario warrants the need for some sort of short-term training to be imparted to researchers prior to undertaking research activities.
Insufficient Interaction: There is no proper interaction between researchers and the business establishments, government institutions, etc. This leads to a great deal of data going untapped. Interaction programs should be organized between researchers and other institutions on a regular basis. This will highlight what issues need to be researched, what data is required for conducting research, and how the study will be useful.
Lack of Confidence: Most of the business establishments are of the opinion that, researchers can misuse the data provided by them. As such, they are reluctant to divulge details of their company. This affects the research studies for which that particular data may be of utmost importance. Thus, confidence-building measures should be adopted, which will convince the business units that their data will be put to productive purposes, and will not be misused in any manner by the researcher.
Market research, in today's digital age, must look towards blending the power of quantitative research with advanced qualitative research methodologies to create a powerful story. To become a major contributor to strategy, market research will need to embrace the advantages of qualitative research and adapt to a world where numbers or data alone cannot tell the full story of consumer or buyer behavior.
Customers do not give honest feedback
Relevancy (how does market research communicate relevant and real customer insight)
Over analyze collected data
The organizations don't want to spend too much money developing a product line that research indicates will be unsuccessful. Some problems make marketing research costly and produce results of questionable value for the organization.
The problems are related to:
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